Swiggy Faces Tax Assessment Challenge

Swiggy has been issued a Rs 7.59 crore tax assessment for the 2021-2022 period by the Profession Tax Office in Pune. The company is accused of violating tax deduction laws. Swiggy plans to challenge the order and believes it won't significantly affect its finances or operations.

Swiggy, a prominent food and grocery delivery platform, has been hit with a tax assessment order totaling Rs 7.59 crore for the fiscal year spanning April 2021 to March 2022. The order comes from the Office of the Profession Tax Officer in Pune.

The company's regulatory filing alleges a violation of the Maharashtra State Tax on Professions, Trades, Callings & Employments Act, 1975. Specifically, Swiggy is accused of failing to deduct the required profession tax from its employees' salaries.

In response, Swiggy stated that it has strong grounds to contest the assessment. The company plans to pursue a review or appeal and is confident that the order will not have a significant impact on its financial stability or operations.

(With inputs from agencies.)